Mini loan or Personal loan

Which you should pay attention to.


It can happen in every household or personal situation that the month is longer than the wages reach, or that incidental expenses have to be made where the funds simply lack.

In such a case it is always possible to ask friends or family for money, but experience tells us that this often causes problems rather than solutions and, above all, in the long term repentance. A more obvious solution is therefore perhaps to borrow money.

Borrow money, such as a personal loan?

There has been a taboo for a long time, taking out a loan to pay for extra expenses. It would be too expensive and not all necessary at all, and it would also be far too easy to borrow money.

Nowadays, this taboo is completely lifted and even most people realize that a loan in these times of economic difficulties can be a good solution. Not only to pay for expenses, such as a new car or washing machine, but also to have the opportunity to dive into that one hole in the market before someone else does it.

A personal loan or a mini credit?

The most loans granted in the Netherlands are the mini loan and the personal loan. Both loans are very similar and it is the small differences that make the distinction. So is the
minilening often a loan where a small amount can be borrowed very quickly (up to a thousand euros) which generally also has to be paid back within a short period.

However, a mini loan is possible again with a negative registration at the BKR in Tiel, an advantage compared to the personal loan. With the personal loan, however, you can borrow much higher amounts and both the interest and the term are discussed and recorded in advance. What do you have to pay attention to before you take out one of these loans?

First of all, it is wise to compare the various providers. What about the maturities and interest rates, where are the large differences in the conditions and how flexible can the provider respond to changes in your personal situation?

In addition, it is always wise to calculate how much you can spend in the month on the interest and the repayment, so that you never borrow more than you can pay back. Because getting off the shore in the ditch is of course no one happy about it.